you go from being the hunter to being the hunted. wolff: i'm never content. even when we win, i'm already worrying about the next race or the next year. we gotta go for these championships. ♪♪ it is 5:00 a.m. here at cnbc global headquarters. i'm frank holland and here is your "five@5." investors repreparing to kickoff the next half of the year. investors ga getting the fi chance to react to the data with the hope of fed rate cuts happening sooner. at&t reaching out to former and current customers after a

massive data breach puts information on the dark web. and nelson peltz is dealing with the proxy battle. and we look at the best ideas for q2 and beyond. our next guest is finding opportunities. it's monday, april 1st, 2024. you're watching "worldwide exchange" right here on cnbc. good morning and welcome to "worldwide exchange." thank you for being with us. let's get you ready for the trading day ahead. we kickoff with the check of the stock futures. look at the futures which are in the green across the board. the dow would open up 120 points higher. the s&p and nasdaq firmly in positive territory. the markets are coming off the strong first quarter. s&p jumping 10%. the best three months since before the pandemic in 2019.

the nasdaq rising and the dow rising 5.5% and 9%. you see the charts here. a busy week on tap for investors with the focus on employment data with the jolts report before the monthly jobs report which comes out on friday. ahead of the jobs data and the pce report, let's look at the bond market. the yields at 4.19% on the ten-year yield. we will have more on rates coming up in a moment. we want to get a check on oil with wti and brent with the second positive quarter up 16%. you can see they are lower right now. wti trading at $83 a barrel. brent is $87 a barrel. let's check on gold. the metal notching the record high of $2,225 an ounce on

thursday. it is up 1.5% above that. you see the increase in gold. we will talk about gold throughout the show. it is up 10% for the year. that's the set up. the oeuropean markets are close for the holiday. we have the latest in asia with jp ong. you see the dow here in the u.s. above 40,000 and the nikkei is falling below that level. >> good morning, frank. you are right. not the best of starts for the second quarter for the nikkei 225 falling below the 40,000 level. in stark contrast to how things were for japanese stocks in the first quarter. there are reasons to be optimistic with the outline from wage growth to corporate earnings and reforms. this time around in the second quarter, you may argue the focus is on the yen.

the yen did soften in the start of the second quarter. a number of analysts have highlighted 152 to 155 as the range for the financial authorities in japan might be forced to intervene to try to weaken or bring back the yen from the weakness. the finance minister is ready to act if the yen weakens which means we are close to coming back from weakness and that means it could weigh on stocks. this is a sharp contrast for the market which opened in strong fas fashion. will this be able to continue? frank, back to you. good morning in new york. >> jp, thank you. returning to the market flash on microsoft.

the tech giant will sell chat and teams video app separately. the move comes six months after the products were separated in europe to avoid anti-trust fines. putting the products together gives microsoft an unfair advantage. microsoft is up .70%. it will separate teams from the office products. and the chinese pmi numbers are giving a lift today and they are getting a chance to react to the pce data. that is the fed's measure of inflation rising 2.5% in february. the headline number is higher than january's figures, but in line with the expectations. core prices are rising 2.8%. fed chair jay powell said like

see. the market is pricing in a 60% rate cut in june. joining necessime now is the representative from callan family office. good to see you. >> thanks for having me. >> we see pc which came in line. we see the odds of the cut in j june on the rise. do you keep putting money in what's working or do you switch strategy? >> i think it was nice to see something coming in line with expectations. just like powell said after the reports we had the last couple months which have caused rockiness in the markets. as far as expectations for rate cuts. the market priced in six and now we're down to three. we had a great start to the

year. everything is moving up. it will depend what we see over the next couple months. the fed has been very clear that they will be data dependent. i don't think jay powell is in a rush to make any moves. they want to continue to trend in the right direction. so, the market can do well while the fed is on pause. i think we will see rate cuts happening this year. >> what's been working so far? is that mega cap tech trend broadening out? raeann, we are talking about the big names likes n nvidia. do you take profits or roll it over? >> we are taking profits after the run we have seen in the last year. we have seen that broadening out. we're happy to see that. that's largely that the market

is saying the economy survived the rate hiking cycle and everything is looking good. we have been broadening out. we have been reallocating to areas outside of tech. we're keeping in tech. just not overweight. >> i know you are looking at alternatives. private equity especially. what about gold? would you move part of your portfolio? >> that is not an area we allocate. we do allocate across asset classes. we do prefer other areas of the private markets such as venture capital and private credit which are attractive right now. gold has had an incredible run here over the last several months. >> raeanne, thank you for your time. >> thanks.

time for the check on the top corporate stories with silvana henao. silvana. >> frank, good morning. at&t revealing it is investigating an incident that led to millions of customers data being published on the dark web. the company has reset the pass codes of the 7.6 million current users impacted and contacting them along with the more than 65 million former customers who also had their data compromised. at&t said the preliminary review revealed leaked data from 2019 or earlier and included social security numbers. the new president of nippon steel is determined to push ahead with the $14 billion bid for u.s. steel. in comments over the weekend, he added that a deal is vital to making the american company more competitive. the remarks come after president

biden argued that u.s. steel should be domestically owned and operated. disney preparing for the big proxy battle with nelson peltz to come to a conclusion this week. disney set to hold its annual shareholder meeting on wednesday and ahead of the hmeetings, calpers with more than 6.5 million disney shares voted to put peltz on disney's board. calpers voted for iger to be on the board. >> the saga continues. we'll be talking more about disney and that proxy battle later on. silvana, thank you. we have more to come here on "worldwide exchange," including the one word that investors need to know today. first, the playbook for the second quarter. victoria greene has the stock that she is bullish on. oil coming off the third

trade month of gains as prices tick higher. what options does the white house have to combat $4 a gallon gas during the summer season? of> and shein is looking to pull prits as it goes public. we have a very busy hour as "worldwide exchange" returns. stay with us. in 1935, ge powered the first night game. and changed the way we see the game, forever. now, we're changing the way we see the future. taking innovation to the skies. with better, faster, more sustainable technology that lifts people up and brings them home safely. electrifying and decarbonizing the planet.

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exchange." look at the year to date s&p gainers. you see two tied to the a.i. trade. super micro followed by nvidia. shares up 80% year to date. and looking at oil with the recent gains amid the tighter supply from the opec production cuts and attacks on russian ref refineries. wti and brent crude is finishing higher in march. u.s. gas prices are rising with rbob futures up 30% this year. that's translated to a 14% jump in prices at the pump with the average $3.53 a gallon a full two months ahead of the summer driving season. we have helima croft here with us. just an oil voice that we lean on. helima, great to see you. great toyou here in

studio. >> good morning, frank. >> i want to go back to the attacks on the russian refineries. you say the results say they tried to stop the attack. how meaningful is that russian supply? >> this is a huge issue for the white house. the white house is deeply concerned that ukraine said if you don't give us the weapons, we're going to defund russia. robust oil has been the reason russia has been able to stay in the game. they have a big budget up to 6% of gdp on defense spending. it is driven by oil revenue. for ukraine, you will try to defund the machine. >> a possible disruption. does that immediately lead to higher prices in the u.s.? >> right now, they are going after refineries. the ability to provide fuel to the frontlines.

they have not yet hit export terminals or pipelines. that would be a game changer. that is what the white house is concerned about. does ukraine say everything's on the table when it comes to oil at a time where we have the opec cuts in place and u.s. production is not expected to grow like it did last year. we're looking at a tighter market and questions about what the white house would do over $4 a gallon in the summer. >> the thing that is a trigger for consumers is the $4 a gallon. we're at $3.53. gas prices are up 1% year over year. diesel is down. on the other side, that is possibly good for the biden administration. it is keeping transport costs down. summer driving season is coming up. >> that is important for the white house. over the summer with questions

of what levers they have to pull. there will be a june opec meeting this week. i expect they will put pressure on saudi arabia to increase production. if they don't get significant additional supply from saudi and opec, do they have to go back to the spr? >> the meeting is coming up this week. it is administrative meeting. are we going to hear something that may move the oil market? >> sometimes we get surprises from the monitoring committee meetings. they turnthem into full meetings. the cuts they announced will be rolled over to june. the june meeting is very important for the biden administration. again, if you don't get more opec barrels, you have ongoing attacks on russian energy infrastructure and then what happens with the spr? that is what i could look to here. >> back to the opec barrels. what about saudi arabia?

you cited a report that saudi arabia plans to spend $40 billion on a.i. this year. does that influence the oil policy? >> saudi has big spending needs. big in a.i. building up massive infrastructure. it has to tapped capital markets this year. they delayed some projects. oil is important to deliver need for the citizens and diversification goals. they have to balance when the white house goes to them and says we want more barrels. they have to think about the bottom line revenue. >> helima croft, great to see you. thank you for being here. have a great day. coming up on "worldwide exchange," not just the markets hitting the area, but one key area thanks to the stock's march higher. we'll talk all about it after this break. stay with us.

(vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. welcome back to "worldwide exchange." looking at the nasdaq 100 gainers. you see nvidia followed by constellation energy and doordash. turning attention back to the markets which is coming off a strong start to the year with the gains leading to the increase of household wealth. that is climbing to fresh highs. we have robert frank joining us now. >> good morning, frank.

great to see you. we have record highs in the market and record wealth as a result. household wealth reaching an all-time high of $156 trillion at the end of 2023 thanks mainly to the end of year stock rally. stocks added over $4 trillion in wealth to house net worth in the fourth quarter. real estate was flat and private businesses were lower. pensions and defined benefits up. those gains are going to those at the top. wealthiest 10% of americans own the 87% held stocks. top 1% own half. the stock market helped create the fastest wealth boom for everyone in recent history. since 2020, the middle 50% to 90%, the middle class, increased by 45%. they added $14 trillion in

wealth. half of that coming from home values. those at the top are seeing the wealth increase by 49% since 2020. most of their gains, however, coming from stocks with equities adding $8 trillion to the wealth of those at the top. economists say this wealth effect from stocks is where your investment gains increase the consumer confidence and spending which may be one reason this consumer economy continues to remain so strong. frank. >> robert, those are eye-popping numbers. are americans getting more invested after the stock market rally? >> they are. that is the other piece of good news. in addition to more wealth, we have more participation in the market. as of 2022, 58% of americans, an all-time record, are owning stocks right now. more are owning individual stocks, not just through the

pension funds and 401(k)s. stocks are going up and wealth is going up and more americans are part of the gains and invested in the gains. >> robert, thank you. coming up, powering the rise of a.i. the stocks that could see a bump from increasing demand from tech. if you haven't already, follow our podcast on apple, spotify or other podcast apps. more "worldwide exchange" coming up after this. for 44 years. when i have customers come in and ask for something for memory, i recommend prevagen. number one, because it's effective. does not require a prescription. and i've been taking it quite a while myself and i know it works. and i love it when the customers come back in and tell me, "david, that really works so good for me." makes my day. prevagen. at stores everywhere without a prescription. power e*trade's award-winning trading app

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it is 5:30a.m. in the new york city area. there's a lot more ahead on "worldwide exchange." here's what's on deck. getting ready to kickoff q2. the markets coming off the best start to the best year in a decade. and on the back of the strong start to the year, we kickoff the week long look at q2 and beyond. and the disney board battle set to come to a head. the support that nelson peltz is locking in ahead of the shareholder vote this week. it is monday, april 1st, 2024. you are watching "worldwide exchange" here on cnbc. welcome back to "worldwide

exchange." i'm frank holland. we pick up the half hour check of the u.s. stock futures. you can see they are in the green across the board. the dow would open up 100 points higher. the nasdaq is taking a dip lower off the highs earlier. we want to get a check on oil. wti and brent coming off the second positive quarter in the last three. up 16% and 13%. take a look right now. they are lower right now. wti is trading a penny above $83 a barrel. brent crude is just below $87 a barrel. >> we want to get a check on gold. the best month in over three years in march. it is hitting a new record high of $2,275. an increase in gold prices over the last week is something we will continue to watch on the show. we want to talk about digital

gold, bitcoin. after the sentencing of sam bankman-fried, you see it is trading below $70,000 for bitcoin. year to date, you see a big run for bitcoin up 63%. that is the set up. stocks are coming off the strong start to the year. the s&p is jumping 10% in q1. the best first three months of 2019. the dow and nasdaq rising 5% and 9% for the start of the second quarter. we tap into the minds to get the opportunities for the stock picks st of the year. we have victoria greene here with us. she is a cnbc contributor. good morning. >> good morning, frank. happy april. april fools day. >> don't fool us.

kw quantas services. why is this the pick? >> this is a huge demand that will limit companies. it is able to help with the grid and expand with the power needs. power growth in the u.s. hasn't happened. we have been under the same consumption year over year. suddenly, power growth is growing. they are 85% in the u.s. u.s. focused with the infrastructure play. our grid has needed updates. they do grid hardening. replacing wooden poles with steel. adding more shields and better prepared for natural disasters. they have a renewable exposure as well as one of the other segments. that is a continued play with expanding here in 2024.

a really well positioned company and unique skill set which is hard for others to come in. >> you say it is a strong moat around the business and a big a.i. play. stocks have had a big run up so far. they doubled the s&p in q1 up 20%. also, i want to point to something. guidance for this year is overall revenue growth of 6.5%. electric power revenue growth of 8% at the midpoint of the guide. is that a bit muted considering how much you are saying they will benefit from a.i.? jeffries is out with a note over the weekend saying when is this a.i. hype going to turn into revenue reality? >> i think they gave themselves an easy hurdle to beat. that midpoint guidance may end up getting raised. they have a huge opportunity set. the major customers include duke

and pg&e and these areas are putting in a lot of money with the backlog being huge. they are in a long cycle. don't just install new or move underground. those are long projects. the backlog is huge. i do see them growing. they are rprojecting free cash flow. i think they are very well posi positioned. >> this company is a reit. that is very low. dividend is 0.14%. i want to point out that you don't focus on valuation, but it is trading on 41 times on forward earnings. you are paying up on a reit with a low dividend and they want to beat their guide, but the growth they are projected is muted as well. >> it is. these are transforming quickly.

companies don't issue guidance over the last 90 days. sometimes these are deep sets. i look at this and say the power opportunity in the united states has grown over the last six months. they may be slow on it. what is a real growth opportunity for us and what will we communicate to the shareholders over what we potentially see which is a catalyst? i think the companies do a good job of setting that expectation. they may see more over what they would disclose. i see this as a very conservative guide. the winds of change are moving quickly in the united states, especially for the power and grid needs. you have to realize the inflation reduction act and the infrastructure spending is a huge net beneficiary. it is not one where you have a lot of competition. the growth story is very well in touch for them. >> why is this your dark horse

pick for you with devon energy? >> they have been struggling with execuxecution. i see them returning to form. they had great exposure to wti. wti is rising from the 70s to 80s. devon has a free cash flow yield. the one thing is the execution improving and the cap ex is supposed to fall 10%. that willhelp the free cash flow. the debt is in great shape. they barely have any debt on the books. i look at this and a dark horse coming off a bad year. i think devon could benefit. >> your number one pick is quantas services. thank you very much. >> thank you, frank. tomorrow, we will have malcolm ethridge sharing his picks as well. now let's get a check of the

corporate stories with silvana henao. silvana. >> some are urges astrazeneca to vote against the pay package for the ceo. the financial times reports the plan would pay him up to $23.6 million is being called excessive by iss. since taking the helm in 2021, he has taken astrazeneca up on the index. and shein has seen profits more than double as it seeks approval from beijing to move ahead with a stock listing in new york or london. documents seen by the financial times shows shein hit a record of $2 billion in profits last year and $45 billion in gross merchandise value. shein was valued at $60 billion in a recent funding round.

cognition labs is reportedly in talks with investors to raise new funding at the valuation of $2 billion. if completed, that would increase the company's valuation to nearly six times what it was weeks ago. this as the co-founder of the google a.i. research division says the money moving into startups has resulted in crypto-like hype. that is obscuring the progress in the field. >> silvana, thank you very much. we will stick with a.i. with nvidia and big tech gets the headlines, but they rely on the grid and infrastructure that delivers the power. our pippa stevens has more on that story. >> good morning, frank. a lot of power is needed for data centers electricity demand

which could double in the next two years. that could top 1,000 terawatt hours in 2026. there is a growing consensus that all this new demand won't be met by reknewables alone. nat gas could rise boosting drillers. after you get the gas out of the ground, you also have to move it. given how hard it is to build a pipeline, especially an interstate one, companies with pipes in the ground could have added value. one company bought by eqt and williams are key names to watch. one thing data centers need is reliable 24/7 fuel. meaning infrastructure to ensure power with cooling equipment and air flow control and cables. that is where these companies come in with johnson controls

for the cooling equipment. rbc called the group an overlooked piece of the data center operations. there is a meaningful increase in the industry companies mentions data centers on earnings calls. the data center a.i. revolution goes beyond the big tech and chip names. >> we have the ceo of west co here. he was talking about that as well. what is this demand spike for a.i.? >> it comes at a time when we are already seeing a boost in electrification with evs and heat pumps. demand in the u.s. has been flat, but now it is forecast to grow and that puts a strain on the grid that is monitoring a constant supply and demand scenario. as things go more distributed from rooftop solar, that means

it becomes more difficult with the grid build out. all of this means for some of the data center announcements, it could put the cart before the horse in terms of projections and what is feasible in terms of building out the grid for the data center which is huge demand growth. >> pippa, thank you. taking a quick look at shares of tesla right now. they are up 1% as the $1,000 price increase on model ys took effect in the u.s. today. shares up 1%. coming up here on "worldwide exchange," searching for bob iger's successor. the names at the top of the list as the company is fighting for the future with the big board vote this week. we are back on "worldwide exchange" in just a moment.

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and disney's proxy fight is coming to a head with the board vote. calpers revealing that it is voting to put peltz on the board. calpers voted to put iger on the board. wit we have alex sherman with us now. alex, good to see you. >> good to see you. >> let's start with the article. according to the story, you say there is a chance we could see the first female ceo in the 100-year history of disney? this woman is cut from the same cloth of bob iger? >> yeah. i say it in the story. she is like the anti-bob chapek. the last ceo who lasted two years. chapek spent 30 years at disney.

he was a business guy at heart. he got his mba. he was in the weeds with pricing at the parks impacting attendance. he had few hollywood ties. the person he counted on for productions in the hollywood community was dana walden. she started working at fox 30 years ago. she really built the fox studio into something from nothing. she spent about 45 years at fox and came over to disney in 2019 when disney acquired the majority of fox's assets. she is not a disney lifer like bob chapek. >> she is one of four internal candidates eyed as a successor for iger. another is jimmy petaro who runs

espn. he has a lot of the business sense bibilities and p &l. who else is the front runner? >> i think it depends who you ask at disney. i think people in the parks division thinks it is josh demaro. others think it is unlikely that bob iger would go back to someone who led parks after bob chapek. that's what led me to the profile on dana walden. the alan bergman is also in the running. you mentioned jimmy and perhaps bob iger would go it in that direction if he looking for someone with experience running big entities. >> what about outside candidates or board members?

>> now it gets murky. it is possible that anybody is a candidate. in fact, in nelson peltz gets on the board, i would say that goes to the larger spectrum. peltz is running on a campaign that i'm a head hunter. in the disney board, you don't know what you're doing with succession. the evidence is chapek was a disaster, but bob iger pushed back his retirement five times and there is no successor. that is the argument to say put me on the board and i'll make sure this gets done correctly and we'll look at a bunch of candidates. maybe candidates you never considered before. the disney culture is thick. i think it hard to bring an outsider in to steer the company in a different direction. >> we have to leave it there.

alex sherman, thank you for being here. turning now to the global briefing. voters dealing with president erdogan getting a major blow at the elections. he picked up 15 other seats in cities nationwide. this is the worst defeat for erdogan in more than two decades in power. erdogan saying this is a turning point. positive economic data in china as manufacturing activity expanded. this was driven by growing orders by domestic and foreign customers. japan and the eu are talking about advanced materials for the next generation chips and batteries to reduce reliance on china for rare metals in electric vehicvehicles.

coming up on "worldwide exchange," one word every investor needs to know today and the stocks looking to kickoff the new quarter t geninhere. stay with us. it s all led up to this. the biggest night in baseball. in 1935, ge powered the first night game. and changed the way we see the game, forever. now, we're changing the way we see the future. taking innovation to the skies. with better, faster, more sustainable technology that lifts people up and brings them home safely. electrifying and decarbonizing the planet. helping to make tomorrow brighter—for everyone. bottom of the 8th, we're all knotted up.

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to help you see untapped possibilities and relentlessly work with you to make them real. welcome back. it is time for the wex wrap-up." at&t is investigating the incident with customer data

published on the dark web. reuters is reporting that microsoft is selling the chat and teams business and offering separately from the global offering. and the new president of nippon steel is push ing ahead for u.s. steel. most fast food workers are set to make $20 an hour today. it is the highest minimum wage across the u.s. restaurant industry. the new "godzilla" moptoppi the box office.

what to watch this week is reports from dave and busters and levi's. disney is set to hold the shareholder meeting on wednesday and janet yellen is traveling to china to meet with leaders there. and take a look at futures right now as we have mentioned all morning long. they are in the green. nasdaq in the glereen, but off e highs from earlier. let's bring in jay hatfield now. great to you have here in the studio. >> thanks, frank. >> you raised the price target of 5,750. 5,500 is the highest. you are higher than them. what is going on? >> we think the target is wrong, but too low. >> too low? >> yes.

the reason for it is what most people don't appreciate, but it is the year of global rate cuts. you see that in the futures market. the average country with 100 basis points of cuts built into that. to lower rates, central banks have to inject liquidity. that's what drives stocks and bonds. >> you gave us the word of the day. the word of the day is liquidity. the argument is this year will see $2 trillion of global liquidity in the global money supply. what impact does that have on the markets? is that a catalyst for raising the target? >> yes. we got bullish on the stock market in 2020 because of the injection. the base went up 32% during 2020. that's really what drives stock and bond markets and dwhat drov

the market lower. investors should track that. you can get that on our web site. we are the only ones who add it up for you. >> i want to get to your picks. you have pick was the financial sector. goldman out with the revenues for banks down 2%. why is right now the time to invest in big u.s. banks? >> we would avoid regional banks and banks with exposure to net interest margin. we are focused on the investment banks from the underwriting in the bull market. we saw the reddit ipo. we would avoid the net interest margin and focusing on the investment banks like morgan or goldman sachs or small cap fund. we think they will beat the other banks. we agree with goldman. normal banking business is under

pressure with rate cuts. >> two picks are based on the investment bank situation. you feel encouraged by the reddit ipo. are there other ipos coming down the bpike to boosts businesses? >> you will see a heat youup ine calendar. you see these which become public next year. not only that, there is a boom in fixed income and a slight pick up in m & a. >> gold is hitting a record high on thursday. it will reach new highs today. what is the view on gold? >> dpoldgold does well when the dollar is weak. there is demand in china right now. they restrict cryptocurrency

trading. we would be bullish. we are forecasting the u.s. tenure going down. >> jay hatfield, thank you. we will do a quick check of futures before we let you go. in the green across the board. we will look at the dow. the dow would open up 100 points higher. we will leave it there. we have "squawk box" coming up next. you have a great day. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number...

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good morning. welcome to the second quarter. we're going to show you how stocks closed out the first quarter. big. big. bigly. how the gains drove household wealth to record highs. and fast food workers in california is increasing to $20 an hour. and disney's proxy vote is days away. nelson pelthsz is winning the

backing of another investor. it's april 1st, 2024 and "squawk box" begins right now. good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. welcome back. we missed you. >> thank you. you didn't miss me that much? >> yes, absolutely. >> i missed you a little. you didn't bring me anything in terms of some exotic disease? >> exotic disease? >> is it okay to talk about it now? >> i went to africa. it was one of the great trips of all time. >> it wasn't your